Newsquawk Daily European Equity Opening News - 14th April 2022

14th April 2022

The Daily European Equity Opening News is uploaded at 0700BST/0200EDT recapping all of the overnight equity news.

From 0700BST/0200EDT all equity news will be covered in real-time over the audio and headline feed and the full audio rundown will be at 0715BST/0215EDT.

There will be an additional audio rundown at 0750BST/0250EDT recapping any company news which has hit the wires since 0715BST/0215EDT ahead of the European equity open

European equity coverage will only cover companies in the STOXX 600 or companies of systemic importance to particular sectors.

ASIA

APAC stocks were mostly positive after the gains on Wall St where risk appetite was supported by lower yields, although some bourses lagged on policy tightening. ASX 200 traded higher but with gains capped by cautiousness in the top-weighted financials sector after Bank of Queensland's shares failed to benefit post-earnings. Nikkei 225 outperformed and reclaimed the 27,000 level with Japan's ruling coalition parties unveiling their draft relief proposals. KOSPI and Straits Times Index lagged after the BoK unexpectedly hiked rates by 25bps points and the MAS tightened FX-based policy, respectively. Hang Seng and Shanghai Comp were kept afloat with speculation rife that the PBoC will lower rates tomorrow via an MLF rate cut, while Citi also sees the possibility for a RRR cut on Friday to free up around CNY 1.2tln cash.

TSMC (2330 TW) - Q1 (TWD): Net Profit 202.7bln (exp. 184.7bln), Gross Margin 55.6%. (Newswires)

EUROPEAN CLOSES

CLOSES: Euro Stoxx 50 -0.10% at 3,827; FTSE 100 +0.05% at 7,580; DAX -0.30% at 14,082; CAC 40 +0.07% at 6,542; IBEX 35 +0.47% at 8,618; FTSE MIB +0.24% at 24,727; SMI +0.01% at 12,380.

SECTORS: Basic Materials 1.11%, Energy 0.86%, Telecoms 0.73%, Healthcare 0.14%, Technology 0.01%, Industrials 0.00%, Consumer Goods -0.15%, Financial Services -0.20%, Consumer Services -0.23%, Utilities -0.29%

FTSE 100

Barclays (BARC LN) - Co. is under BoE scrutiny for gaming the rules around pension schemes, according to FT sources; could take an early GBP 1.25bln hit to its core capital buffer if the PRA demands it. (FT)

Ex-dividend - ITV (ITV LN) will trade without entitlement to its latest dividend. (Newswires)

OTHER UK COMPANIES

Balfour Beatty (BBY LN) - Co. has been awarded a USD 698mln US army contract. (Newswires)

BROKER MOVES

Bunzl (BNZL LN) downgraded to Hold from Buy at Berenberg

DAX

Mercedes Benz (MBG GY) - Co's EV vehicle broke the 1,000km mark on a single charge. (Newswires)

OTHER GERMAN COMPANIES

BROKER MOVES

CAC

Sanofi (SAN FP) - Co. announced positive results from the Phase 1/2 dose-finding study evaluating the safety, pharmacokinetics and clinical activity of rilzabrutinib. (Sanofi)

OTHER FRENCH COMPANIES

Valneva (VLA FP) - UK regulators have approved Co's COVID vaccine. (Newswires)

BROKER MOVES

PAN EUROPE

Atlantia (ATL IM) - Blackstone and Benettons have offered to acquire Atlantia for EUR 23/shr (vs prior close EUR 21.89). (Newswires)

Banco BPM (BAMI IM) - Credit Agricole (ACA FP) tells Italy's Treasury that it has no plans to gain control of Banco BPM, according to Reuters sources. (Newswires)

TomTom (TOM2 NA) - Q1 (EUR): Revenue 128.4mln (exp. 128mln). EBIT -19.8mln (prev. -14.2mln Y/Y). Net -21.5mln (prev. -11.5mln). (Newswires)

BROKER MOVES

SMI

OTHER SWISS COMPANIES

BROKER MOVES

SCANDINAVIA

Ericsson (ERICB SS) - Q1 (SEK): Revenue 55.1bln (exp. 53.6bln). Adj. operating profit 4.80bln (exp. 6.44bln). Co. expects elevated inventory levels to remain in the next quarter. Gross margin 42.3% (prev. 35.3% Q/Q). EBIT Margin 8.7% (prev. 10.7% Y/Y). (Newswires)

Genmab (GMAB DC) - Genmab and AbbVie (ABBV) announce topline results for Epcoritamab. Based on the topline results, the companies will engage global regulatory authorities to determine next steps. (Genmab)

BROKER MOVES

US

CLOSES: SPX +1.13% at 4,447, NDX +1.99% at 14,217, DJIA +1.01% at 34,564, R2K +1.86% at 2,023.

SECTORS: Consumer Discretionary +2.51%, Technology +1.59%, Materials +1.46%, Energy +1.36%, Communication Services +1.31%, Industrials +0.97%, Consumer Staples +0.69%, Health +0.43%, Real Estate +0.41%, Financials -0.08%, Utilities -0.17%.

Amazon (AMZN) is to charge sellers a 5% fuel and inflation surcharge, according to Bloomberg. (Newswires)

14 Apr 2022 - 06:46- EquitiesResearch Sheet- Source: Newsquawk